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wealthy it has an economy the size of portugal's but in terms of the number in terms of the size of taxes they pay it's much more to central government than they actually get back from madrid in terms of investments in schools and hospitals so they're annoyed about that and particularly when you consider that unemployment here is around twenty five percent so if a referendum does happen i suppose you could say that you would expect people to vote in favor of it although i say that those people who are against separatism do point out that if catalonia does withdraw from spain it could also mean it has to drop out of the european union and not many people in catalonia would be in favor of that if that turns out to be the case and maybe they would prefer the status quo so there are a lot of ifs and buts but what we do know as a result of today's election there is a growing sentiment of nationalism and a sense for independence here in catalonia. from the european partnership for independence believes claims catalonia would be unable to join the e.u. are simply madrid trying to derail the sepa
wealthy it has an economy the size of portugal's but in terms of the number in terms of the size of taxes they pay it's much more to central government than they actually get back from madrid in terms of investments in schools and hospitals so they're annoyed about that and particularly when you consider that unemployment here is around twenty five percent so if a referendum does happen i suppose you could say that you would expect people to vote in favor of it although i say that those people...
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Nov 26, 2012
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lawmakers are under pressure to strike a deficit deal, preventing the tax hikes and deep spending cuts. wall street's week got off to an uncertain start, partly over concerns that strong holiday sales won't last. the dow jones industrial average lost 42 points to close at 12,967. the nasdaq managed about a ten- point gain to close at 2976. the woman who helped steer the government's regulatory response to the 2008 financial crisis is stepping down. mary schapiro announced today she's resigning as chair of the securities and exchange commission after nearly four years. president obama has designated s.e.c. commissioner elisse walter to replace schapiro, effective december 14. in bangladesh, thousands of people protested today over a deadly fire at a factory that makes garments for american and other companies. at least 112 people died in the saturday night blaze on the outskirts of dhaka, the country's capital. today, crowds of textile workers demanded justice and improved conditions. they accused management of putting production quotas ahead of people's lives. . >> reporter: what the f
lawmakers are under pressure to strike a deficit deal, preventing the tax hikes and deep spending cuts. wall street's week got off to an uncertain start, partly over concerns that strong holiday sales won't last. the dow jones industrial average lost 42 points to close at 12,967. the nasdaq managed about a ten- point gain to close at 2976. the woman who helped steer the government's regulatory response to the 2008 financial crisis is stepping down. mary schapiro announced today she's resigning...
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Nov 26, 2012
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raise taxes. >> i'm willing to recorgenerate revenue. where is below but i will not raise tax rates to do it i will cap deductions, and violates the pledge, long story short. for this country of democrats will do entitlement changes. >> is not we clear when it will meet next a deal could be well off. >> we rarely see the will and the white house make decisions, early. i would be pleasantly surprised to see a deal emerge earlier than at the end of the year but we will see >> this week could bring them one step closer. >> human error is playing the national gas explosion in massachusetts. it leveled ace trip clubbed gas utility-it leveled-a- stri strip club. and damaged more than three dozen buildings. the state fire marshal says a keos utility worker accidentally punctured a high pressure pipe and a metal probe were looking for the source of a gas leak. 18 people were hurt, nothinnotno " deaths. >> authorities in florida who investigated the c cayley and in the death say that they overlooked a google search in the case orange county sheri
raise taxes. >> i'm willing to recorgenerate revenue. where is below but i will not raise tax rates to do it i will cap deductions, and violates the pledge, long story short. for this country of democrats will do entitlement changes. >> is not we clear when it will meet next a deal could be well off. >> we rarely see the will and the white house make decisions, early. i would be pleasantly surprised to see a deal emerge earlier than at the end of the year but we will see...
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Nov 26, 2012
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. >> the first of my constituency, tax due on time. revenue of four billion pounds and last year less than 1 million pounds in patents. the government has issued a claim for unpaid taxes, will he allow us to draw the wrong conclusion about whose ideas on? >> the hon. gentleman makes an important point about making sure companies make their contributions and fair tax payments and our country. we put 900 lbs. specifically into revenue to make sure we do properly get individuals to pay their taxes and yesterday i announced one of the key priorities of the g-8 which i will be sharing, in northern ireland in june of next year. and get proper international agreement paying taxes properly. >> to my right hon. friend, a preschool opening next year. one of a most deprived to provide a letter for social mobility for young people. a great tangible assets but what the government is doing in terms of education. >> very kind invitation for my hon. friend. and all of the 78 preschools that have been established over the last two years making good pro
. >> the first of my constituency, tax due on time. revenue of four billion pounds and last year less than 1 million pounds in patents. the government has issued a claim for unpaid taxes, will he allow us to draw the wrong conclusion about whose ideas on? >> the hon. gentleman makes an important point about making sure companies make their contributions and fair tax payments and our country. we put 900 lbs. specifically into revenue to make sure we do properly get individuals to pay...
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Nov 26, 2012
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let's tax the wealthy. well, what is wealthy? sunday that as 10 million in the bank, had a good year. there is not a clear picture of what the definition of that is. melissa: even if they are in danger, but this does not hurt the warren buffett's of the world and that they don't mind it, but a whole bunch of people who have saved for retirement under trying to live off those investments and dividends. it's going to hurt them instead. i don't lose sleep over that. but we do worry about the much smaller investor, maybe he doesn't impact the market where you think. they share care about this. >> that is entirely reasonable position to take, but it is also a little bit, let's say condescending to think that those people don't know what is best for them. melissa: i didn't say they don't know what's best for them. the amount they have available to investors less. they don't have a lot of extra dollars. >> i wasn't trying to indicate that you were saying that. those people tend to be reacting to the news that obama was reelected in a wa
let's tax the wealthy. well, what is wealthy? sunday that as 10 million in the bank, had a good year. there is not a clear picture of what the definition of that is. melissa: even if they are in danger, but this does not hurt the warren buffett's of the world and that they don't mind it, but a whole bunch of people who have saved for retirement under trying to live off those investments and dividends. it's going to hurt them instead. i don't lose sleep over that. but we do worry about the much...
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Nov 26, 2012
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cuts expire for the wealthiest americans. >> i would be very much opposed to raising tax rates but i do believe we can close a lot of loop holes. >> reporter: democrats say just closing loop holes and limiting deductions is not enough to make a dent in the nation's $16 trillion deficit. >> you've got to raise additional revenues, including tax rates on the wealthy. those have to go up. they have to go up. >> reporter: but many republicans believe the best way to close the gap is reform entitlement programs like social security and medicare. democrats aren't on board yet. >> my concern about raising that medicare retirement age is there will be gaps in coverage or coverage that's way too expensive for seniors to purchase. >> reporter: and with the fiscal cliff looming, white house economists are warning shoppers concerned about a tax increase pay not spend as much this holiday season. danielle -- nottingham, cbs news. >>> investors are worried the strong start to the holiday shopping season may not last. right now, let's take a look at the dow. it's down nearly 60 points at this hour.
cuts expire for the wealthiest americans. >> i would be very much opposed to raising tax rates but i do believe we can close a lot of loop holes. >> reporter: democrats say just closing loop holes and limiting deductions is not enough to make a dent in the nation's $16 trillion deficit. >> you've got to raise additional revenues, including tax rates on the wealthy. those have to go up. they have to go up. >> reporter: but many republicans believe the best way to close...
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Nov 26, 2012
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taxes rise. martha: even the white house is warning that the uncertainty of a potential tax hike could hurt american retailers during this deholiday shopping season. white house economists saying quote, as we approach the holiday season which accounts for 1/5 of industry sales, retailers can not afford the threat of tax increases on middle class families. bill: as we learn more about what each side is kill willing to concede in this argument president obama meets with leaders later in the week. this morning we'll meet with house majority leader eric cantor live in "america's newsroom.". next hour we talk to him where these negotiations are. how much each side is willing to give up and what they want in return. ultimately will they get a deal? eric cantor coming up next hour. martha: it is all in the language and semantics of these discussions. as u.s. lawmakers continue all this wrangling over some kind of budget deal we work towards here at home, european lawmakers are meeting today on their fin
taxes rise. martha: even the white house is warning that the uncertainty of a potential tax hike could hurt american retailers during this deholiday shopping season. white house economists saying quote, as we approach the holiday season which accounts for 1/5 of industry sales, retailers can not afford the threat of tax increases on middle class families. bill: as we learn more about what each side is kill willing to concede in this argument president obama meets with leaders later in the week....
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but not raising taxes. lindsay graham goes on to something else that he throws out here. >> i agree with we shouldn't raise rates, but i think grover is wrong. what do you do with the money? buy down debt and cut rates to create jobs but i will violate the pledge, long story short for the good of the country, only if democrat will do entitlement reform. >> bill: oh, peter you listen to what these people are saying that's why the media has it all wrong. they are falling for this republican line of crap. republicans lost this election. this was mitt romney's deal. and president obama said we have to have an balanced deal we're going to cut spending to the bone, but you have also got to get rid of those bush tax cuts for the wealthiest of americans, and put it back where it was under president clinton, the greatest economic growth in our lifetime. americans went with president obama's idea. it's now time for republicans to accept this is what the americans want. but instead this is more republican propaganda,
but not raising taxes. lindsay graham goes on to something else that he throws out here. >> i agree with we shouldn't raise rates, but i think grover is wrong. what do you do with the money? buy down debt and cut rates to create jobs but i will violate the pledge, long story short for the good of the country, only if democrat will do entitlement reform. >> bill: oh, peter you listen to what these people are saying that's why the media has it all wrong. they are falling for this...
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minimum tax. is there a reason or desire in the white house to have a more permanent pass on that? >> one of the problems that we face with our tax policy is lack of certainty. the alternative minimum tax in particular has extra inflation that causes an ad hoc adjustments every year and creates uncertainty. i do not want to go beyond that. that is not something that we listed in the report. >> i would like to bring in today, cyber-monday, and black friday into the equation. how would retail sales from today and friday helped retail sales going into the economy? how does it affect this economy and the economic situation right now? what will the effect be if we did not have middle-class tax cuts any more? could you give us today and next year possibilities? >> retail spending is extremely important for the economy. as you mentioned, consumption accounts for 70% of our gross domestic product. to put the figure in context, if no class tax cuts are not extended and spending falls next year, that is fou
minimum tax. is there a reason or desire in the white house to have a more permanent pass on that? >> one of the problems that we face with our tax policy is lack of certainty. the alternative minimum tax in particular has extra inflation that causes an ad hoc adjustments every year and creates uncertainty. i do not want to go beyond that. that is not something that we listed in the report. >> i would like to bring in today, cyber-monday, and black friday into the equation. how...
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this new report says that if taxes go up at the end of the year for middle and condemincome tax. it would reduce consumer spending by nearly 2 $1 billion next year. >> a new national poll suggests that americans understand that the physical cliff is no joking matter. two-thirds of people questioned and a c n f o r c poll says that the u.s. would face a crisis or major problems of the country when off the fiscal clifford the end of the year. >> beauty giant l oreal is buying the edgy privately owned make the brent urban decay. the deal, estimated to be about $300 million, will millionl oreal another entry into the fast-growing area of special is brest, which is says represents 44% area of special is brest, which is saylook at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you'r
this new report says that if taxes go up at the end of the year for middle and condemincome tax. it would reduce consumer spending by nearly 2 $1 billion next year. >> a new national poll suggests that americans understand that the physical cliff is no joking matter. two-thirds of people questioned and a c n f o r c poll says that the u.s. would face a crisis or major problems of the country when off the fiscal clifford the end of the year. >> beauty giant l oreal is buying the edgy...
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>> -- a millionaire's tax. is that what democrats are looking at? >> there are fantasies in both camps. on the one side, it is raising their rates on everybody who makes $250,000 will solve the problem. and the other side is the program that charles outlined. and then there is a third fantasy that the lobbying class in washington, which is much stronger than ever before, will simply be dead and not do anything to try to keep the loopholes they now have, or the preferences day out. >> will the democrats agree to a higher -- above $250,000? >> i do want to make a note aboutcharles's statement one half of washington being liberal. i thought that was a concession. >> if i were to think about the groupies, it would be three- quarters. >> we will talk about the groupies in the military later. i do want to say that nina is absolutely right. the reality is that you cannot do this painlessly. at the same time, all of the tribute that charles paid, and so deservedly so, to the reagan- o'neill plan had an element to that was truly an acceptable to every conser
>> -- a millionaire's tax. is that what democrats are looking at? >> there are fantasies in both camps. on the one side, it is raising their rates on everybody who makes $250,000 will solve the problem. and the other side is the program that charles outlined. and then there is a third fantasy that the lobbying class in washington, which is much stronger than ever before, will simply be dead and not do anything to try to keep the loopholes they now have, or the preferences day out....
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> in syria ten children in a suburb outside dam afternooningus have become the latest victims in the ongoing violence. now, fighting has ripped this country apart. activists say more than 40,000 people now have been killed since the first pretest 20 months ago against the regime of president bashir al assad. nick payton walsh shows us what happens when bombs fall in, of all places, a playground. >> these disturbing images show what happens after a children's playground is hit, according to activists by a cluster bomb. refugees with nowhere else to hide apparently hit by a single deadly device dropped by a jet. some cluster bombs released smaller explosives to cause maximum devastat
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> in syria ten children in a suburb outside dam afternooningus have become the...
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Nov 26, 2012
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let's have income tax, 15%, gift taxes, 15%, let's make sure that warren buffett finally starts paying at least as much as his secretary, in the percentage, and, what has been proposed, here, by the president, will not have warren buffett paying the same as his secretary, in percentage. let's have a flat tax, lou. let's take the president at his word. if you make more you will pay more and this is the only way that that is going to happen. >> lou: you know i believe the speaker boehner, perhaps the president himself may have been talking to you, talking to steve forbes and others who talked about the possibility of reforming the entire tax code. that could -- >> this is a great time. you know, the kind of time... and, not only that, let's don't forget the last time that the senate had a budget, it was when harry reid worked with his friend, speaker pelosi and nobody in the 2008 budget complained that it wasn't spending enough money. let's go back to 2008. $2.5 trillion, and cuts off a trillion in spending, right there. >> lou: there are all sorts of ways to get there, as you suggest he
let's have income tax, 15%, gift taxes, 15%, let's make sure that warren buffett finally starts paying at least as much as his secretary, in the percentage, and, what has been proposed, here, by the president, will not have warren buffett paying the same as his secretary, in percentage. let's have a flat tax, lou. let's take the president at his word. if you make more you will pay more and this is the only way that that is going to happen. >> lou: you know i believe the speaker boehner,...
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but all of the other tax changes would be for next year's taxes, not this year's taxes. so you don't see that immediate impact. and then the stupid across-the-board cuts, congress should revisit that. we could find reductions of $100 billion that aren't across the board where you cut things that are useful and working well as much as things that are losers and go away. >> so under your theory and that of several ores, there's not as you referred to an economic calamity. but you and i both know for example wall street. we keep hearing these business leaders and so many others are nervous and we could see an immediate reaction there if some type of deal is not reached before january 1st. >> sure. the millionaires and billionaires, they've got a sweet deal now. they will make a lot of noise to say, raise my tax rates and i'll stop investing. of course, these are the same people who spent $400 million, $500 million to get a president hired that would cut their taxes. >> it would certainly affect it if the white house is saying you'll go off this cliff. you're looking at them
but all of the other tax changes would be for next year's taxes, not this year's taxes. so you don't see that immediate impact. and then the stupid across-the-board cuts, congress should revisit that. we could find reductions of $100 billion that aren't across the board where you cut things that are useful and working well as much as things that are losers and go away. >> so under your theory and that of several ores, there's not as you referred to an economic calamity. but you and i both...
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Nov 26, 2012
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. >> some of the eu executives say the member states say increase in carbon tax is an affordable in cash-strapped times. >> the members are open to come up with concrete cut to cut these gases up the conference. >> with so many lights glowing in the night at thousands of cars rolling through the city, it they do not seem too worried about global warming. qatar's initials are highest in the world. >> they are ambitious open for change on global level. they want to work to a new agreement that will take effect by 2020. >> this is a historic conference. it is a vital importance, considering the items on the agenda. it is a turning point in the negotiations on climate change. >> breyer's, experts have sounded urgent warnings about melting polar ice and extreme weather. they say that in order to limit global temperature rise to two degrees celsius, greenhouse gas emissions must be kept low, but total emissions are still rising every year. many experts believe may it already be too late. temperatures could surge by of to four degrees celsius this century. compared to pre-industrial levels. the conseque
. >> some of the eu executives say the member states say increase in carbon tax is an affordable in cash-strapped times. >> the members are open to come up with concrete cut to cut these gases up the conference. >> with so many lights glowing in the night at thousands of cars rolling through the city, it they do not seem too worried about global warming. qatar's initials are highest in the world. >> they are ambitious open for change on global level. they want to work to...
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and if this fiscal cliff is allowed to happen on january 1, your taxes, my taxes, everybody's taxes go up. and on that point, let's continue. top of the hour, i'm brooke baldwin. i want to begin with the fiscal cliff. because other news here, you have republican senator saxby chambliss, a two-term conservative from the red state south, but just this past weekend, the tea party nation website labeled him, i'm quoting, worthless and a liar. what did he say to deserve these words? he said he's willing to break the no tax pledge that he made when he first ran for office. and guess what? now he has company. fellow republican senators lindsey graham and bob corker say that under the right circumstances, they too are willing to break ranks. what is the republican world coming to? john avalon, straight to you, cnn contributor, writer for daily beast newsweek. i want to get your reaction to the news we heard from jay carney, we now know the president has spoken by phone over the weekend with boehner and mcconnell. might this be progress? >> yes, it might be progress. that's a good thing. you go
and if this fiscal cliff is allowed to happen on january 1, your taxes, my taxes, everybody's taxes go up. and on that point, let's continue. top of the hour, i'm brooke baldwin. i want to begin with the fiscal cliff. because other news here, you have republican senator saxby chambliss, a two-term conservative from the red state south, but just this past weekend, the tea party nation website labeled him, i'm quoting, worthless and a liar. what did he say to deserve these words? he said he's...
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otherwise taxes will go up and major taxes will be triggered. senators lindsey graham and saxby champ blins are suggesting they would be willing to break their no tax pledge to get a budget deal done. today is day six of the cease-fire between israel and hamas and delegations from both sides are in cairo to meet separately with representatives from egypt which helped broker the cease-fire along with the united states. hamas says the latest round of talks will focus on border crossings and easings of the economic blockade of gaza. >>> the bodies of a northern california couple have been recovered after they were swept out to sea trying to save their dog. the family was playing fetch with their dog north of eureka on saturday. the dog chased after a stick and got pulled into the ocean by eight to ten foot waves. the boy and his parents followed the dog into the water. >> horrible story. >> feeling lucky? no grand prize winner saturday night. the jackpot for wednesday's powerball drawing is up to $425 million. that number could go even higher depen
otherwise taxes will go up and major taxes will be triggered. senators lindsey graham and saxby champ blins are suggesting they would be willing to break their no tax pledge to get a budget deal done. today is day six of the cease-fire between israel and hamas and delegations from both sides are in cairo to meet separately with representatives from egypt which helped broker the cease-fire along with the united states. hamas says the latest round of talks will focus on border crossings and...
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Nov 26, 2012
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take the alternative minimum tax. if the inflation index isn't advanced for that and i believe republicans and democrats want to do it, 23 million middle class americans will have a 2,000 to 3,000 dollars tax increase on that alone. >> let me interrupt you for a second. i was making this point a little earlier when you start talking about these financial things, you know, the i don't want so say minutia but the more specifics of the negotiations and what the numbers mean and the two different sides will tell you that the numbers are different, it is kind of hard for the average person on who doesn't have an mba to figure out what's going on here. >>> john mccain is suggesting the republican party should focus on bigger issues and leave abortion alone. during an interview yesterday the senator said while he is proud of his pro-life position, there are bigger things to worry about like the economy and national security. police are admitting they missed a potentially key piece of evidence in the casey anthony murder inve
take the alternative minimum tax. if the inflation index isn't advanced for that and i believe republicans and democrats want to do it, 23 million middle class americans will have a 2,000 to 3,000 dollars tax increase on that alone. >> let me interrupt you for a second. i was making this point a little earlier when you start talking about these financial things, you know, the i don't want so say minutia but the more specifics of the negotiations and what the numbers mean and the two...
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the words how we are in a strong economy what happens is that each year believe we live facing this tax burden from the spanish state on a spanish state machinery are trying to fear campaign cancel and so we are european see the science and know there's not such press of that that we would be out of the european union seven a half million of people suddenly enough how that would be more difficult actually to manage to good order when it's necessary to be out at it's not a consideration we don't believe we're going to be out of the european union like a scotland are not going to be outside european union just because we are exercising universal rights as is the universal right of subtlety of nation which took our democracy here. coming up in a few minutes it's made of only modern tie is but office opportunity he pulled from a makeshift better ones like jerusalem that on the verge of demolition taking children only place to study that's not a short break and there are not too. waves of corruption are rocking in russia hundreds of millions of dollars vanished from apec building projects an
the words how we are in a strong economy what happens is that each year believe we live facing this tax burden from the spanish state on a spanish state machinery are trying to fear campaign cancel and so we are european see the science and know there's not such press of that that we would be out of the european union seven a half million of people suddenly enough how that would be more difficult actually to manage to good order when it's necessary to be out at it's not a consideration we don't...
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the atm tax is going to get a patch. we know we're going to see benefits given to our -- unemployment benefits given and veteran benefits gimp. it seems like this year we have a nice new fun name. i know you hate it steesh, but the fiscal cliff. we put that scary name on it as if that's going to motivate our elected officials. all i see is a press release them saying they're going to fight for us and until the end of the day they're not going to do anything until we see a nice countdown clock. >> as per zblushl but the republicans need that clock more than the democrats do, don't they? >> they do. the fact is we need to find a path way to yes and i think the sooner we do it the better it is politically to move off. >> yeah. no. i mean i was just going to say, republicans -- the problem here for republicans is they're trying to get off this 22-year rae fusal to raise taxes, and think to cut any kind of a deal, they almost -- even if the deal -- the parameters are in place they have to go to the very edge. we held out as l
the atm tax is going to get a patch. we know we're going to see benefits given to our -- unemployment benefits given and veteran benefits gimp. it seems like this year we have a nice new fun name. i know you hate it steesh, but the fiscal cliff. we put that scary name on it as if that's going to motivate our elected officials. all i see is a press release them saying they're going to fight for us and until the end of the day they're not going to do anything until we see a nice countdown clock....
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what's the one tax rate going up january 1st that no one's talking about? the payroll tax. remember that? it was cut from 12 to 10%. i gather the republicans have no problem -- i don't know -- but letting working class and middle class americans have a 2% tax increase. that's not currently the republican position that the payroll tax cut should be extended. they're happy to let it go because god forbid they cut entitlements for wealthy seniors. we have a collusion among the elites of both parties. the one tax that goes up january 1, if there's a deal s payroll tax, which i think is wrong. republicans have a opportunity to be champions of the working class. >> kirsten, some democrats are saying let's go over the cliff. everybody's tax rates are going to go up and then the president in january can go to congress and say now it's 39.6% and whatever it is for middle class and i'll present a plan that will cut the tax rates of 98% of people, are you prepared now, when the rate is already up, to oppose that? >> the problem with that plan is it's dangerous because we don't know ho
what's the one tax rate going up january 1st that no one's talking about? the payroll tax. remember that? it was cut from 12 to 10%. i gather the republicans have no problem -- i don't know -- but letting working class and middle class americans have a 2% tax increase. that's not currently the republican position that the payroll tax cut should be extended. they're happy to let it go because god forbid they cut entitlements for wealthy seniors. we have a collusion among the elites of both...
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expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten years. $100 billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the possibility that g.o.p. lawmakers may put their oath of office above a promise to antitax increase organizer. good evening. >> good evening. the republican sources say they are offering a balanced approach of significant spending cuts and some revenue without boosting tax rates. >> we have been responsible as we remain firm on this point. no tax increases now for promised spending cuts that won't materialize later. the american people have seen that game before. they won't be fooled again. >> the top republican on the senate budget chel explained the g.o.p. plan to bring in mo
expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten years. $100 billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the...
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gains tax rate. you know what all of it is? all of it is about can they govern? can they govern? can we be governed? can the people in washington, d.c., in the house and the senate and the president, can they govern? >> they have to. >> well, they have to. they absolutely have to. >> just to make a point for those who thought that the health care reform law was historic, many people -- i actually assume that most of the five people at this table think that it's a shocking thing that america is the most powerful country on earth before the health care law was passed, had a massive number of many, many millions of uninsured people in the country when every other industrialized country has universal coverage. >> right. we do all agree with that, right? >> one of the more historic things, it's going to move millions of uninsured people into the ranks of the civilized world. >> and as the president promised, also not only is he going to put 30 million people on the rolls for health care, it's also going t
gains tax rate. you know what all of it is? all of it is about can they govern? can they govern? can we be governed? can the people in washington, d.c., in the house and the senate and the president, can they govern? >> they have to. >> well, they have to. they absolutely have to. >> just to make a point for those who thought that the health care reform law was historic, many people -- i actually assume that most of the five people at this table think that it's a shocking...
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have really we live facing this tax burden from the spanish state on the spanish state machinery are trying to fear campaign cancel and so we are european see the signs and know there's not such a presser that that the we would be out of the european union and seven a half million of people suddenly enough how that would be more difficult actually to manage to good order when it's necessary to be out and says not a consideration and we don't believe we're going to be out of the european union like a scotland are not going to be outside european union just because we are exercising universal rights as is the universal right of such a nation. we're talking of the most here. coming up in a few minutes it's made only of modern tie is but often is the opportunity to report from a small makeshift beda when school solenn that's. the mission taking the children only place to study social grace. waves of corruption are rocking russia hundreds of millions of dollars vanished for apec building projects and russia's got a nice satellite project a real estate scandal has also led to the defense m
have really we live facing this tax burden from the spanish state on the spanish state machinery are trying to fear campaign cancel and so we are european see the signs and know there's not such a presser that that the we would be out of the european union and seven a half million of people suddenly enough how that would be more difficult actually to manage to good order when it's necessary to be out and says not a consideration and we don't believe we're going to be out of the european union...
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reform and spending cuts over the raising of taxes. here is the senate republican leader on what the g.o.p. is offering. >> without compromising our principles we put skin in the game and recognition to the fact while democrats don't run this town, neither do we. we have been responsible even as we remain firm on this point. no tax increases now for promised spending cuts that you will not materialize later. the american people have seen that game before. they won't be fooled again. >> house republicans are planning to bring in on wednesday a number of c.e.o.'s of caterpillar, goldman sachs and all state and other key players on fiscal includes including erskine bowles co-author of the simpson-bowles and the republicans want the business community to hear their ideas and make the case a big deal should include spending cuts and reforms. >>shepard: thank you, mike, from capitol hill. grover norquist will join neil cavuto next hour and talk about breaking the anti-tax pledge by some republicans. >> the generation leader who brokered the
reform and spending cuts over the raising of taxes. here is the senate republican leader on what the g.o.p. is offering. >> without compromising our principles we put skin in the game and recognition to the fact while democrats don't run this town, neither do we. we have been responsible even as we remain firm on this point. no tax increases now for promised spending cuts that you will not materialize later. the american people have seen that game before. they won't be fooled again....
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the use of tax havens to avoid paying taxes in this country is an outrage. we can end it. there's tens of billions of dollars a year involved in closing those kinds of offshore loopholes. >> i'm going to leave it there. senator levin, thank you for being here. hope you had a good holiday. >>> i want to turn to the republican side. peter king of new york. congressman, hope you had a good holiday. good to see you this morning. >> i had a great holiday, especially because notre dame beat southern cal. >> my poor step dad. he is not so happy this morning. >> i don't care about him. >> let me continue on the issue of taxes because this is important. and as i say, it's going to be the defining issue. you hear republican saxby chambliss say it's not going to govern what i do. norquist saying he promised the people of georgia that he would reform the government rather than raise taxes. where do you stand on the pledge? can this be overcome? with revenues be raised? >> first of all, i agree with chambliss. a pledge you signed 20 years ago, 18 years ago, is for that congress. for in
the use of tax havens to avoid paying taxes in this country is an outrage. we can end it. there's tens of billions of dollars a year involved in closing those kinds of offshore loopholes. >> i'm going to leave it there. senator levin, thank you for being here. hope you had a good holiday. >>> i want to turn to the republican side. peter king of new york. congressman, hope you had a good holiday. good to see you this morning. >> i had a great holiday, especially because...
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between the expiration of the bush tax cuts and higher taxes, for obamacare, the top capital gains rate will jump from 15% to 23.8, and listen to this: the top rate on dividends will jump from 15% to 43.4. how are, mr. sweeney, investors reacting to those possible, very stiff tax hikes? >> well, to that point, you want some clarity and whether the clarity comes in your personal economy at home, whether, you are a ceo or cfo of a corporation you want clarity how to spend the cash you have accumulated on your balance sheet or, if you are the government you want to figure out how to impact the spending you have at the federal level as well. americans are looking for clarity, so they can make the decisions, and, in terms of purchasing short-term christmas gifts for the next selling season or whether, again, if you are a ceo and trying to think of investing in a plant or hiring new people -- >> if i may, sir, specifically, if you have a stock and you see your capital gains, if you sell the stock, could go from 15% to 24%, at the -- on january 1st, are some people cashing out now? >> well, wh
between the expiration of the bush tax cuts and higher taxes, for obamacare, the top capital gains rate will jump from 15% to 23.8, and listen to this: the top rate on dividends will jump from 15% to 43.4. how are, mr. sweeney, investors reacting to those possible, very stiff tax hikes? >> well, to that point, you want some clarity and whether the clarity comes in your personal economy at home, whether, you are a ceo or cfo of a corporation you want clarity how to spend the cash you have...
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should taxes go up. the discussion is how do you do it? >> exactly. and, listen, i think that to the extent we are just talking right now, i don't think that talking hurts. but should this become -- should this come in play, little there will be a lot of people on the left who will not be very happy. i think in some ways it is apples and oranges. i think what you're hearing is we will do this, however, you need to do the separate thing over there. i don't think social security has anything to do with it. >> let's talk raw numbers here. at the end of the day you have to find 218 house members. and in the past john boehner has said and, oh, by the way, his election is after the fiscal cliff. that happens a couple days after the fiscal cliff. so all of this maneuvering is complicated. to get to 218 he has said he wants a majority of the majority, which is approximately 120 republicans, so then you have to find some nearly 100 democrats to do this as well, and if that has social security and medicare in it,
should taxes go up. the discussion is how do you do it? >> exactly. and, listen, i think that to the extent we are just talking right now, i don't think that talking hurts. but should this become -- should this come in play, little there will be a lot of people on the left who will not be very happy. i think in some ways it is apples and oranges. i think what you're hearing is we will do this, however, you need to do the separate thing over there. i don't think social security has...
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grover norquist's tax pledge could be history. and all eyes are now focusing on house republicans as talks to avoid going over that so-called fiscal cliff are picking up steam. joining me now, mark halperin, senior political analyst for "time" and msnbc and ruth marcus, columnist and editorial writer for the "washington post." to you, mark, what is your read about what we've been hearing the last couple of days about grover norquist, the pledge and how much running room the speaker does have to b negotiating a deal. >> i did a spit take with my fruity pebbles watching "morning joe" because eric cantor's tone was unlike anything i've ever heard. his office is saying oh, no, he's against raising marginal rates, but it's clear that in the scheme of things, the biggest piece is does john boehner have enough running room to strike a deal involving some new revenue. i still am of the belief that the vote in the house, which will be a cliff hanger no matter what happens amongst the leaders in the white house, it will be a tough vote. i t
grover norquist's tax pledge could be history. and all eyes are now focusing on house republicans as talks to avoid going over that so-called fiscal cliff are picking up steam. joining me now, mark halperin, senior political analyst for "time" and msnbc and ruth marcus, columnist and editorial writer for the "washington post." to you, mark, what is your read about what we've been hearing the last couple of days about grover norquist, the pledge and how much running room the...
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republicans are resisting the idea that inleasing tax rates on the wealthy will steer the country away from the fiscal cliff even though suspects insist it will. >> i would be very much opposed to raising tax rates, but i believe that we can close a lot of lop holes. >> they have to go up, real or effective tax rates, there are ways of doing this and secondly, we have to gross loopholes. >> lindsey graham is okay with new revenue and willing to cap deductions to get it, but only if democrats agree to reform entitlements like social security and medicare. >> i don't expect the democrats to go for premium ouci do expect them to adjust these entitlement programs before they bankrupt the company. some entilement reform is okay with illinois democratic senator dig durbin, but thinks that social security should be left alone. >> social security does not add one penny to our debt. not a penny. it's a separate funded operation and we can do things and i believe we should, smaller things played out long-term that give it solvency. >> and congressman peter king says nobody will get all they want
republicans are resisting the idea that inleasing tax rates on the wealthy will steer the country away from the fiscal cliff even though suspects insist it will. >> i would be very much opposed to raising tax rates, but i believe that we can close a lot of lop holes. >> they have to go up, real or effective tax rates, there are ways of doing this and secondly, we have to gross loopholes. >> lindsey graham is okay with new revenue and willing to cap deductions to get it, but...
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catalonia is actually very wealthy this is strong as portugal was but the fact is they give far more in taxes to the central government and they actually get back in terms of investment from madrid in things like schools and hospitals so the overall feeling is that they believe that separatism could well be the way forward after mass will have to try and fulfill his election promise of holding a referendum on independence from spain as you mentioned he did not get an absolute majority so we will not be able to push this straight away but luckily for him the second biggest party that was voted in was also pro independence so the feeling is they will be able to negotiate and between them they will have enough power to push through this referendum but the biggest sticking point for this referendum is that it is against the spanish constitution some commentators are saying it could actually lead to the arrest of aftermath he tries to push it through the spanish prime minister matter only russia has also said that he would be desperate to keep hold of one of the country's wealthiest regions at a t
catalonia is actually very wealthy this is strong as portugal was but the fact is they give far more in taxes to the central government and they actually get back in terms of investment from madrid in things like schools and hospitals so the overall feeling is that they believe that separatism could well be the way forward after mass will have to try and fulfill his election promise of holding a referendum on independence from spain as you mentioned he did not get an absolute majority so we...
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todayself republica selveral red away from a pledge banning tax increases. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece, and republicans should put revenue on the table. i want to cut rates to create jobs, but i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> i agree with saxby chambliss. a pledge you signed 20 years ago, 18 years ago is for that congress. if i were in congress in 1941 i would have signed -- supported a declaration of war against japan. i'm not going to attack japan today. the world has changed. >> does it mean we might be closer to a fiscal cliff compromise? athena jones takes a closer look. >> reporter: that's, of course, the big question here. we know in the meeting the president had with lawmakers the friday before thanksgiving there was a lot of positive talk coming out of that with leaders on both sides saying the meeting was constructive, that lawmakers understood their responsibilities, and that they were going to work to
todayself republica selveral red away from a pledge banning tax increases. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece, and republicans should put revenue on the table. i want to cut rates to create jobs, but i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> i agree with saxby chambliss. a pledge you signed 20 years ago, 18 years ago is for...
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lame duck congress returns this week with barely a month left to avoid the fiscal cliff of mandatory tax hikes and spending cuts. retiring senator joe lieberman today lamented the lack of bipartisanship on capitol hill. >> in my opinion the last two years, 2011-12 have been the least productive and most partisan and uncompromising in my 24 years here. the public seemed outraged at the status quo that produced so little. >> glor: newly elected senator angus king is vowing to help break the logjam by doing what so many others in congress will not, compromise. chip reid caught up with king on the streets of maine. >> if somebody comes to you and says i'm not going to compromise, what they're really saying is i have 100 percent of the truth. i'm 100% right. >> reporter: angus king says he's 100% certain of only one thing. that neither the democrats nor the republicans are always right. that is why when he takes his seat in january as the new senator from maine he will be doing it as an independent. >> the people are absolutely fed up with this nonsense. they have had it with washington not b
lame duck congress returns this week with barely a month left to avoid the fiscal cliff of mandatory tax hikes and spending cuts. retiring senator joe lieberman today lamented the lack of bipartisanship on capitol hill. >> in my opinion the last two years, 2011-12 have been the least productive and most partisan and uncompromising in my 24 years here. the public seemed outraged at the status quo that produced so little. >> glor: newly elected senator angus king is vowing to help...
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taxes ride. rule every american is expected to feel the pinch. we'll break down the numbers on the latest proposals and see who maintains what depending on what kind of deal is reached. and are you not one of the so-called rich. no one company or governing body runs the it net. that helped the worldwide interest neat to grow in the way it has to spur democratic movement. a u.n. summit next week could put a little known united nations agency in charge worldwide web. and countries like china, russia, and iran are actively lobbying for new global rules that can allow them to, for example eavesdrop at will or sensor content. rick gold stein is the director of the project. it's no surprise china and iran and russia would love to control the internet. about it's a surprise they are going to have some conference with the u.n. in dubai next week. we are attending and this is going to be the topic? >> looking at the history of the united nations and how it triumphed on free speech. i'm not surprised. we h
taxes ride. rule every american is expected to feel the pinch. we'll break down the numbers on the latest proposals and see who maintains what depending on what kind of deal is reached. and are you not one of the so-called rich. no one company or governing body runs the it net. that helped the worldwide interest neat to grow in the way it has to spur democratic movement. a u.n. summit next week could put a little known united nations agency in charge worldwide web. and countries like china,...
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scientifically unjustified and ministering thirty seven's complex regulations would waste millions of tax dollars of all throwing on a lab coat and a stethoscope does not mean this lady is a doctor or that she gives a crap about your health and to say that a label even would be scientifically unjustified is calling the forty other countries that require labels or a straight up ban g m o's stupid look the cost for california residents is in consequential if you actually look at the text of the ballot measure but i guess a forty one million dollar disinfo campaign can convince people of just about anything so the question you should really be asking yourself is why have these biotech corporations spent so much more money keeping people in the dark than it would just cost them to label the foods. speaking of being behind the rest of the industrialized world the next proposition i want to talk to about is prop thirty four it would end the barbaric practice of capital punishment and california it's titled the death penalty initiative statute the measure passes prop thirty four were to limit it
scientifically unjustified and ministering thirty seven's complex regulations would waste millions of tax dollars of all throwing on a lab coat and a stethoscope does not mean this lady is a doctor or that she gives a crap about your health and to say that a label even would be scientifically unjustified is calling the forty other countries that require labels or a straight up ban g m o's stupid look the cost for california residents is in consequential if you actually look at the text of the...
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. >> they have to go up either real tax rates or effective tax rates. second we have to close significant loopholes. jon: bret baier is the anchor of special report. maybe we can get an explanation from you. the republicans are talking about raising revenue but not raising tax rates. how do they do that? >> reporter: basically they close tax loopholes, they put a cap on deductions. in other words for high income earners let's say the cap was $50,000 you would take in deductions, they don't specify what specific deductions it would be but that is the cap of tax deductions you could take and there by after that point you don't get any more deductions, so the amount of taxes you pay goes up. now this is not new, jon, this is what really mitt romney and paul ryan were running on, as they talked about it they got hammered again and again for not being specific on what tax deductions and loopholes were going to close. but this was the line for the republican standard bearer, the candidate. so when you hear these senators and congressmen talking about that and
. >> they have to go up either real tax rates or effective tax rates. second we have to close significant loopholes. jon: bret baier is the anchor of special report. maybe we can get an explanation from you. the republicans are talking about raising revenue but not raising tax rates. how do they do that? >> reporter: basically they close tax loopholes, they put a cap on deductions. in other words for high income earners let's say the cap was $50,000 you would take in deductions,...
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he says i would raise taxes if. then he lists this incredible list of reforms and entitlements that the democrats would never give him. i suggested, senator, you're offering to trade a tax increase for a pink unicorn that doesn't exist. >> you're saying this is never going to happen. because if a republican says, you know what, i am actually not going to go with the pledge that i have signed and i'm going to, you know, do this compromise and vote for that, would you then target that lawmaker? would you say, you know, you're lying. you changed your mind from the pledge. now i'm going to put the substantial weight and efforts of your organization to try to unseat that republican candidate? >> george hervert walker bush broke his commitment to the american people. i don't think the americans for tax reform even put out a press release. somehow the american people figured out he broke his commitment. he couldn't get 38% of the vote when he ran in a general. he didn't lose in a primary. he lost in a general election. rai
he says i would raise taxes if. then he lists this incredible list of reforms and entitlements that the democrats would never give him. i suggested, senator, you're offering to trade a tax increase for a pink unicorn that doesn't exist. >> you're saying this is never going to happen. because if a republican says, you know what, i am actually not going to go with the pledge that i have signed and i'm going to, you know, do this compromise and vote for that, would you then target that...
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it is all tax money. it is not suspicious. the textbook folks are getting a little closer to the classroom there. a little more suspicious. that part of the sector is dominated by for-profit players, whether the old line textbook providers are those transitioning into the new digital age and thinking more a online adapted products. it is much lower heat from the conversation. the closer you get to the classroom, how about school operators that contract with the local school district? a for-profit company running one are two schools or a network of schools and having a goal at the end of the year to have money left over to reinvest in the business to make a better and to return over some time to return to shareholders. even at harvard business school, a very small percentage of this was ok. it seemed the paradigm was what kind of activities to be the same the public sector has a legitimate right to provide. therefore it seems an encroachment from the private sector trying to somehow capture rents that are somehow more appropria
it is all tax money. it is not suspicious. the textbook folks are getting a little closer to the classroom there. a little more suspicious. that part of the sector is dominated by for-profit players, whether the old line textbook providers are those transitioning into the new digital age and thinking more a online adapted products. it is much lower heat from the conversation. the closer you get to the classroom, how about school operators that contract with the local school district? a...